2015-01-08

Sohu Financial Platform Exposed to Kaisa Bankruptcy

A twist in the Kaisa bankruptcy story: a subsidiary has a loan on Sohu's financial website.

Kaisa Can’t Say If It Plans to Meet Deadline for Bond Coupon
Souyidai, the financial platform of Chinese search engine Sohu.com, pledged on Jan. 6 to make full payment if Kaisa’s two subsidiaries, which are acting as guarantors, can’t repay principal or interest on a 68.11 million yuan ($11 million) wealth management product sold through the site.

21st CBH: “首付贷”产品受累佳兆业事件 搜易贷承诺兜底
Search easy loan announcement, found easy loan with Shenzhen Kaisa on September 16, 2014 signed the "launch" down payment loan "with real estate sales," bundled services "cooperation agreement" (Contract No.: SZ-QT-YXHT- 2014-105), followed by books and supplemental agreement the two sides confirmed the four properties in three is "locked" signed a cooperation on real estate.

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